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View Full Version : Why is the gov. still giving these losers bailout money? AIG $30 more million WTF


jamaicanDM
03-03-2009, 07:02 AM
I mean i am soccer player myself and play at the pro level but this is getting crazy. AIG this is like the 10th bailout pardon the exaggeration but come on on now. They (AIG) pays MAN UTD (my fav team) $40 million a year in shirt sponsorship deal even thought they wont be doing it after this season. What do you guys think about this?
BanginJimmy
03-03-2009, 07:16 AM
The 40 million is nothing compared to the 150B they have received already, and the lates bailout is 30 BILLION, not million. I read something that Paul write in another thread, but I believe that AIG told ManU they would not re-up the contract a couple years ago and they are simply living up to their end of the sponsorship deal.
KPowerEP3
03-03-2009, 07:24 AM
I mean i am soccer player myself and play at the pro level but this is getting crazy. AIG this is like the 10th bailout pardon the exaggeration but come on on now. They (AIG) pays MAN UTD (my fav team) $40 million a year in shirt sponsorship deal even thought they wont be doing it after this season. What do you guys think about this?


Man Utd is gay. Root for the underdog.

WEST HAM!!

Seriously though, putting us, as citizens, deeper in debt to the government so that these companies can continue losing money is NOT the answer. Don't get me wrong, I don't know the answer...but it's just common sense, if a boat can't hold water, it's GOING to sink eventually.
blacknightteg
03-03-2009, 07:27 AM
i am tired of hearing that they are giving these banks money, they just dont want change in our economic system so their keeping it on life support hoping something like a miricale happens. which it probably wont. they need to just let shit fail and start over.
Frög
03-03-2009, 07:30 AM
WE ARE SOOO FUCKED!!

This is how I see it..

Blockbuster.. Its doomed, that business will never make money because it has too high overhead.. Movie rentals will all be done online in the future.. Now, that being said, all this is like giving money to blockbuster the day it threatens to file for bankruptcy.. Its so dumb, because its doomed and will fail..

GM is the same way, who in their right mind would buy a GM?
Paul
03-03-2009, 07:30 AM
The 40 million is nothing compared to the 150B they have received already, and the lates bailout is 30 BILLION, not million. I read something that Paul write in another thread, but I believe that AIG told ManU they would not re-up the contract a couple years ago and they are simply living up to their end of the sponsorship deal.

actually AIG has a 4 year 100 million (25mil a year) tshirt deal; and they will not be renewing. AirAsia maybe picking up the ManU sponsor for 30mil a year. :goodjob:

but i'm with you... here is what i don't get... you are a major CEO of a multi BILLION dollar corp. how is there no insight inside of your company to for see such failure in your future. honestly i think it is a problem of turning a blind eye and allowing the problem to grow.
Frög
03-03-2009, 07:34 AM
actually AIG has a 4 year 100 million (25mil a year) tshirt deal; and they will not be renewing. AirAsia maybe picking up the ManU sponsor for 30mil a year. :goodjob:

but i'm with you... here is what i don't get... you are a major CEO of a multi BILLION dollar corp. how is there no insight inside of your company to for see such failure in your future. honestly i think it is a problem of turning a blind eye and allowing the problem to grow.

I agree, poor internal management.. And companies that are that way SHOULD fail! Those that have adequate management will prevail.. Perfect filter and new space for new companies to flourish..
BanginJimmy
03-03-2009, 07:37 AM
but i'm with you... here is what i don't get... you are a major CEO of a multi BILLION dollar corp. how is there no insight inside of your company to for see such failure in your future. honestly i think it is a problem of turning a blind eye and allowing the problem to grow.

I am absolutely positive that some midlevel exec saw the coming doom and spoke up about it. The problem is, by the time anyone could see the end of the boom, many of these corporations were so deep in bundled mortgages that there was no way out. AIG insured all of that bad debt and that is what is killing them. They didnt get caught up in the mortgage deals directly, but their insurance side is drowning under the debt of other companies.
Frög
03-03-2009, 07:43 AM
I am absolutely positive that some midlevel exec saw the coming doom and spoke up about it. The problem is, by the time anyone could see the end of the boom, many of these corporations were so deep in bundled mortgages that there was no way out. AIG insured all of that bad debt and that is what is killing them. They didnt get caught up in the mortgage deals directly, but their insurance side is drowning under the debt of other companies.

Actually, a good friend of mine (who is on this website), his grandfather was a GM executive many years ago.. When he left, he told everyone that GM would fail because of all the labor unions and etc...

He was right..
Paul
03-03-2009, 07:49 AM
Actually, a good friend of mine (who is on this website), his grandfather was a GM executive many years ago.. When he left, he told everyone that GM would fail because of all the labor unions and etc...

He was right..

Unions are a scam - they take money from employees and cause nothing but problems for the companies involved. Honestly GM and others fail it would be the best thing b/c unions will be no more. It cracks me up companies are taking record losses and the employees have no respect for their jobs or future. i guess many would rather be unemployed than get rid of the root of the problem.
BanginJimmy
03-03-2009, 07:51 AM
Actually, a good friend of mine (who is on this website), his grandfather was a GM executive many years ago.. When he left, he told everyone that GM would fail because of all the labor unions and etc...

He was right..


The writing was on the wall a LONG time ago that the unions would kill the Big 3. GM's sales would easily cover their expenses if it wasnt for their horrid union contract. As I have said before, I read an editorial that said that if GM slashed all retirements from 95% to 80% it would save them about 50B a year. That would make GM a profitable company immediately. In 5 years when they paid off all of the debt they have accrued due to the unions they could start expanding again. Maybe they would be smart enough to set up a 401k program instead.
civic95
03-03-2009, 10:30 AM
If a company is ran poorly it's going to fail anyway. What's the point in delaying it a few months. I say let them fail. Someone else can step in, and do it better.
jamaicanDM
03-03-2009, 07:45 PM
further more $20 million year is still too much even for UTD......Look what happened to Vodafone who at that time was the highest paying shirt sponsor and they even renew their contract. Either way im still a big fan....Flying from Reykjavik to Manchester next week to wathc them play Inter.....
Friggintitsman
03-03-2009, 07:50 PM
Our grandchildren will be paying for this their whole lives
BanginJimmy
03-03-2009, 08:02 PM
Our grandchildren will be paying for this their whole lives


Unless Obama puts away the credit card it will NEVER be paid off. We can only hope that he doesnt double the deficit by the end of his 4 years. Cutting it in half isnt even in the discussion. As it is, he is going to have a 2T deficit by the end of this year. Maybe he means he will cut THAT deficit in half to only 1T.